Exam (elaborations)
PCF - Chp. 6 (1).
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Exam of 1 pages for the course PCF - Chapter 2 at PCF - Chapter 2 (PCF - Chp. 6 (1).)
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PCF - Chp. 6In a Farm and Ranch sale, the buyer receives all of the following items except ____________. -
ANS-Trucks
Which statement regarding earnest money is INCORRECT? - ANS-a. There is no standard
amount prescribed, but is often 1% of the sale price.
b. In Texas, earnest money is set at 6% of the sale price.
c. Earnest money is not a legal requirement of a contract.
d. Earnest money is a deposit paid up front by the Buyer to show seriousness in intent.
B
_______________ are implemented when property operating under an exemption has its us-
age changed. - ANS-Rollback taxes
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